ANALISIS PERBANDINGAN DENGAN TINGKAT AKURASI METODE PENILAIAN FINANCIAL DISTRESS PERUSAHAAN

Abstract

This study examines the comparison of financial distress assessment methods in construction and real estate companies in Indonesia. The urgency of this research arises due to the significant financial challenges faced by the sector, especially in the post-COVID-19 period, which has affected the financial stability of companies. The purpose of this study is to identify the differences in financial distress analysis results using five methods: Altman (Z-Score), Springate (S-Score), Zmijewski (X-Score), Fulmer (H-Score), and Grover (G-Score), and to determine which method has the highest level of accuracy.

This research utilizes secondary data from the financial statements of companies listed on the Indonesia Stock Exchange in 2023. The results show significant differences between the methods used to predict financial distress. Among the five methods analyzed, the Zmijewski (X-Score) method proves to have the highest accuracy in predicting financial distress in construction and real estate companies.

The conclusion of this study is that using the appropriate method to predict financial distress is crucial for companies to anticipate bankruptcy risks and take preventive actions early.